While the pace of growth in business investment, housing and consumer spending slowed from the second quarter, all those categories contributed to growth.

“The report was broadly constructive, with the gains broadly based and pointing to positive underlying momentum in the U.S. economy,” said Millan Mulraine, deputy chief economist at TD Securities in New York.

“However, with some indications of weakness emerging in housing and consumption spending, we expect the pace of growth to slip further in the fourth quarter.”